BoE’s Tenreyro warns rate rise could be ‘self-defeating’; US jobless claims fall – business live

Rolling coverage of the latest economic and financial news

  • Latest: US jobless claims finally fall below 300,000
  • Bank’s Tenreyro: rate hike could be self-defeating
  • Sunak plays down help for businesses over gas hike
  • Jim Ratcliffe: Industry ‘could shut down’ this winter as gas prices soar
  • IEA: Energy surge could threaten recovery
  • China factory gate inflation hits 26-year high

The Labour party have criticised Rishi Sunak for not offering help to Britain’s energy intensive industries:

Bridget Phillipson MP, Labour’s Shadow Chief Secretary to the Treasury, says the government should protect jobs at risk from the surge in gas prices:

“Our brilliant British industries are a crucial cornerstone of our economy, and we should be supporting them to boost our recovery.

“The Conservatives should be protecting and supporting them through a crisis which has come about from a severe lack of government planning.

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